Donald Trump and his transition team have begun exploring pro-crypto candidates for key financial regulatory positions in the United States.
Candidates under consideration include Hester Peirce, Mark Uyeda and Paul Atkins as possible replacements for current SEC Chairman Gary Gensler.
Will the SEC have a new look under the Trump administration?
According to The Washington Post, Trump's team is reviewing a mix of current and former regulators and financial industry leaders, many of whom have expressed strong support for the cryptocurrency market.
These appointments have significant influence. The next chairman of the SEC and other regulatory agencies will shape the industry’s future role in the U.S. financial system. In this regard, former SEC Commissioner Daniel Gallagher has previously criticized the agency’s harsh stance toward the crypto sector. He is also currently a board member at Robinhood.
Peirce and Uyeda have also expressed their disapproval of the SEC’s policies under the Biden administration. Peirce is seen as a possible acting chair of the agency, with the possibility of leading a federal task force on crypto regulation.
Trump's team is also considering Paul Atkins, a former agency commissioner who advised during Trump's previous transition, and Chris Giancarlo, former head of the Commodity Futures Trading Commission (CFTC). Both are known for their favorable stances on the crypto industry.
The new regulatory regime will make it much easier for tokens to capture value from their protocols. Banks will be able to interact with the crypto industry where they couldn’t before – institutional custody rules could be significantly simplified – popular crypto researcher Aylo wrote in a post on X (formerly Twitter).
Under Gensler, the SEC has pursued high-profile cases against Binance, Coinbase and Ripple, alleging violations of securities laws. Those companies deny the charges, which include operating without proper registration and engaging in fraudulent practices.
Trump previously vowed to fire Gensler during the Bitcoin Conference, signaling his intention to change the agency's direction regarding digital assets.
US election starts bull run
The optimism surrounding Donald Trump’s election victory and its impact on crypto regulations is very evident in the market. Just days after the election results, the market is experiencing one of the biggest rallies in recent years.
Bitcoin has hit new highs for four consecutive days following the election. Today, it reached a new record high near $89,000.
Bitcoin price chart since 2024 US election results. Source: BeInCrypto
Trump’s victory brought millions to several bettors on Polymarket. Three crypto whales made $47 million on the platform following the Republican’s victory.
Read more: Polymarket: complete guide to the prediction and betting platform
Investment in Bitcoin ETFs has also surged since the election. On November 7, the day after the official announcement of the election results, BTC ETFs saw a record inflow of $1.39 billion.
The article Trump Considers Three Pro-Crypto Candidates to Lead SEC appeared first on BeInCrypto Brasil.
